Action So far..

Base metals being sold aggressively today,Zinc -5.25%,Lead -6.25%,Nickel -4.75% Copper -3.5%.If you remember from yesterday’s post,  base metals have had a heck of  a Run this month.With Month End tomorrow it very well could be some profit taking as Some hedge Funds close up books for the month  and  Year .Dollar not having any impact on the metals trade today.

This mornings revision to GDP was better than expected as  was Consumer Spending component.Consumer confidence for November released at 9:00 was highest in 7 years,beat expectations by 4 standard deviations.This metric does include reaction to trump Victory.

Spoos have 5 handle range since 8:30  as stocks in no hurry to do anything.Bonds were trading heavy after the Economic data release but now are trying to move higher. Recall that Goldman Said month end flows will lean towards “buys” in treasury complex.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.